426,868 Shares in Telefonica Brasil S.A. $VIV Purchased by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. purchased a new position in Telefonica Brasil S.A. (NYSE:VIV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 426,868 shares of the Wireless communications provider’s stock, valued at approximately $4,866,000.

Several other institutional investors also recently added to or reduced their stakes in VIV. GAMMA Investing LLC increased its stake in Telefonica Brasil by 2,041.2% in the 1st quarter. GAMMA Investing LLC now owns 81,750 shares of the Wireless communications provider’s stock worth $713,000 after buying an additional 77,932 shares during the period. Rhumbline Advisers increased its stake in Telefonica Brasil by 337.7% in the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 3,266 shares during the period. Handelsbanken Fonder AB purchased a new position in Telefonica Brasil in the 1st quarter worth about $795,000. Ritholtz Wealth Management increased its stake in Telefonica Brasil by 19.1% in the 1st quarter. Ritholtz Wealth Management now owns 83,867 shares of the Wireless communications provider’s stock worth $731,000 after buying an additional 13,429 shares during the period. Finally, D Orazio & Associates Inc. purchased a new position in Telefonica Brasil in the 1st quarter worth about $107,000. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VIV. Morgan Stanley set a $12.00 price target on shares of Telefonica Brasil in a research note on Wednesday. Citigroup initiated coverage on shares of Telefonica Brasil in a research report on Wednesday, September 10th. They set a “neutral” rating on the stock. Weiss Ratings raised shares of Telefonica Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Telefonica Brasil in a research report on Friday, August 8th. Finally, Barclays reissued an “overweight” rating and set a $13.00 target price (up previously from $12.50) on shares of Telefonica Brasil in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.53.

Telefonica Brasil Stock Down 0.8%

NYSE:VIV opened at $12.00 on Friday. Telefonica Brasil S.A. has a fifty-two week low of $7.47 and a fifty-two week high of $12.92. The stock has a market capitalization of $19.52 billion, a P/E ratio of 19.35, a P/E/G ratio of 0.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.98. The company’s 50-day simple moving average is $12.36 and its 200-day simple moving average is $11.95.

Telefonica Brasil (NYSE:VIV) last released its quarterly earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $14.48 billion. On average, equities analysts anticipate that Telefonica Brasil S.A. will post 0.6 earnings per share for the current fiscal year.

About Telefonica Brasil

Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company in Brazil. Its fixed line services portfolio includes local, domestic long-distance, and international long-distance calls; and mobile portfolio comprises voice and broadband internet access through 3G, 4G, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.